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Addictive Auctions: using lucky-draw and gambling addiction to increase participation during auctioning

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  • Kumar, Ravin

Abstract

Auction theories are believed to provide a better selling opportunity for the resources to be allocated. Various organizations have taken measures to increase trust among participants towards their auction system, but trust alone cannot ensure a high level of participation. We propose a new type of auction system which takes advantage of lucky-draw and gambling addictions to increase the engagement level of candidates in an auction. Our system makes use of security features present in existing auction systems for ensuring fairness and maintaining trust among participants.

Suggested Citation

  • Kumar, Ravin, 2019. "Addictive Auctions: using lucky-draw and gambling addiction to increase participation during auctioning," OSF Preprints darvs, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:darvs
    DOI: 10.31219/osf.io/darvs
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    References listed on IDEAS

    as
    1. Christopher Y. Olivola & Stephanie W. Wang, 2016. "Patience auctions: the impact of time vs. money bidding on elicited discount rates," Experimental Economics, Springer;Economic Science Association, vol. 19(4), pages 864-885, December.
    2. Yih Hwai Lee & Cheng Qiu, 2009. "When Uncertainty Brings Pleasure: The Role of Prospect Imageability and Mental Imagery," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 36(4), pages 624-633, December.
    3. Gregory E. Kersten & Tomasz Wachowicz & Margaret Kersten, 2016. "Competition, Transparency, and Reciprocity: A Comparative Study of Auctions and Negotiations," Group Decision and Negotiation, Springer, vol. 25(4), pages 693-722, July.
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